ToneTag

paymentsproximity mobile payments

FOUNDING YEAR: 2013
LOCATION: India
Last Update: 01/05/2020

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About

ToneTag harnesses the power of sound to build a robust channel of data communication to enable extraordinary experiences across businesses. The technology utilizes a proprietary software which gives way for quick and easy data communication. Being a software element, it can easily be integrated into existing hardware, making it interoperable and platform independent. Protected with multiple layers of security, data security is our number one priority. The technology provides unparalleled convenience and experiences for a multitude of use cases across the payments, retail and mobility sector. We empower small merchants in remote areas to large MNCs to understand, reach and engage with their customers with a simple but futuristic technology. ToneTag was formed in 2013 in the Silicon Valley of India, Bangalore and since then we have cemented ourselves as a pioneer in sound technology. With a vision to constantly innovate, the possibilities of our technology are unlimited.

MEDICI Analysis

ToneTag is a sound-wave communication platform which enables payments and proximity customer engagement services on any device, without the use of any instrument or the infrastructure.

Focus

PRODUCTS & SERVICES

The services offering include - 1. ToneTag for Payments - ToneTag SDK can be integrated with mobile apps, EDC/POS and ATM machines without any hardware upgrades to provide contactless payments. ToneTag RetailPod allows any retailer to accept sound based contactless payments. 2. ToneTag for Mobility - It allows customers to make fast, cashless and secure payments. 3. ToneTag for Retail - It enables personalized engagement experience for customers on the basis of their shopping history & preferences. It also helps retailers to place appropriate real-time products offering at the time of selling the products.

REVENUE MODEL

We charge license fee for our product with Payment instrument issuers, while with merchant acquirers, we charge a small fee on every additional transaction we bring.

People

FOUNDERS

vivek singh

Kumar Abhishek

Kumar Abhishek (CEO)

Vivek Kumar Sing (CFO)

BOARD MEMBERS AND ADVISORS

Arun Seth

T.V. Mohandas Pai

Manish Dugar

T. K. Kurien

BS Nagesh

Sridhar Chityala

Anand Chandrasekaran

Pulak Ghosh

NUMBER OF EMPLOYEES

11-50

INVESTORS:

3one4 Capital

Aditya Birla Group

Akash Prakash

Akshay Singh

Amazon

Anand Chandrasekhar

Arihant Gajendrakumar Patni

Arun Seth

Bhumija Patil

Country Roads Entertainment & Hospitality

Deepak Ghaisas

Elevate Innovation Partners

Manish Duggar

Manoj Chawla

Mastercard

Mohandas Pai

Neeraj Baghel

Nilesh Trivedi

Rajesh Yohannan

Ram Sellaratnam

Ravi Sharma

Reliance Venture Asset Management

Sharat Seth

Suvobroto Sarkar

Tekkethalakal Kurein

The Singapore Fintech Awards

Vikas Verma

KEY EMPLOYEES:

Abhishek Kumar (CEO)

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

2

TOTAL FUNDING

$10 M

DATE OF LAST FUNDING

May 2018

SEED & PRIOR FUNDING

$3.5 M

SEED CLOSED ON

2017

SEED PRIOR FUNDING COMMENT

raised in 5 seed rounds of funding.

FUNDING SERIES

SERIES A  · $6.5 M  · 2018

LISTED

NO

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ToneTag

About

ToneTag is a secure sound-wave communication technology platform which enables payments and proximity customer engagement services on any device, independent of the instrument or the infrastructure.

Focus

PRODUCTS & SERVICES

ToneTag is a sound based proximity communication provider that enables contactless proximity communication, contactless payments, location based services and customer engagement services among a multitude of other solutions.

Traction

CHANNEL STATUS

INITIAL CLIENTS

People

BOARD MEMBERS AND ADVISORS:

Kumar Abhishek, Vivek Singh

INVESTORS:

Reliance Capital

Momentum

FUNDED

YES

TOTAL FUNDING:

$1 M

LISTED

NO

FUNDING SERIES